NDLI: Toward a Cognitive Science of Markets: Economic Agents As Sense-Makers

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Toward a Cognitive Science of Markets: Economic Agents As Sense-Makers

Content Provider	Scilit
Author	Johnson, Samuel
Copyright Year	2018
Description	Journal: SSRN Electronic Journal Behavioral economics characterizes decision-makers using psychologically-informed models. Cognitive science produces psychologically-informed models. Why don’t these disciplines talk more? Here, I present several arguments for why cognitive science should inform behavioral economics — it characterizes internal psychological states, builds a richer conception of human nature, pays equal attention to cognition’s successes and failures, embraces multidisciplinary insights, and avoids blind spots produced by behavioral economics’ intellectual lineage. I illustrate these principles using the cognitive science of sense-making — how humans understand information — including mental tools such as hypothesis-evaluation heuristics, narratives, and intuitive theories. The science of mind can produce new insights to enrich economics.
Related Links	https://www.econstor.eu/bitstream/10419/193173/1/1066769230.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3250031
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3250031
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2018-09-15
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Behavioral Sciences History and Philosophy of Science Cognitive Science Behavioral Economics Experimental Economics Behavioral Finance Economics Methodology Information Processing Decision-making Under Uncertainty
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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